Saturday, January 22, 2011

How Is the Spot Price of Silver Metal Set?

By Elmer Richardson


Silver is the most precious metal next to gold. Investment in gold is will earn you good returns, while investments in silver will earn you very good returns. The price of gold has increased 84% from July 2003 to November 2006. The price of silver has increased more than 200% in the same time.

Public awareness regarding the huge returns and ways to make easy profit in silver market is very less. Hence required importance is not given to silver investment. But the situation is changing to better in recent times. The steadiness of any major economy depends mainly on the silver and gold stock it has. All the features which affect the price of the gold affect the price of silver also and cause fluctuations in its price.

London market fixes the price of silver at 12.15 P.M every day. Popularly known as the silver spot price, this price keeps changing everyday and even throughout the day based on trading activities spread across the world. All major cities like Paris, Zurich, Mumbai, Shanghai, Hong Kong, Sydney, Chicago and New York participate actively in silver trading throughout the day. It is a 24/7 never sleeping market. If you want to know what is the price of silver on a current date, use official websites of NYMEX, The Bullion Desk, Kitco and the Tokyo Commodity Exchange to get updated details.

If you want answer for questions like what is the price of silver in 1990 or 1980, you can check in the COMEX Spot Price website or the London Fix official Websites. These websites have details regarding silver spot price starting from 1975. These websites display data regarding the monthly price fluctuation of silver price in a graphical format. Their press releases and websites serve as a great source of information regarding the silver price over the past three decades.

Current silver spot price details can be got easily from the COMEX Spot Price website. Silver price is in rise continuously. What is the price of silver now is a tricky question, as the answer keeps changing. Hence COMEX website keeps updating its data constantly. Current price of silver is $28.68 on December 18, 2010. The price will rise at any time. Silver market is a great place to invest for people who cannot afford to invest in the gold market. Wise silver investment will multiply the money in a very short period of time.




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